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Top 5 US companies losing a total of $260 billion in market cap, led by Apple and Amazon

Shares of the top-five largest US companies by marketization are all falling more than the broader capital stock market, as the stocks of Amazon.com Inc. AMZN, -5.14% and Tesla Inc. TSLA, -5.00% led the way lower. The combined market-cap losses of the five companies was about $259.9 billion as of Tuesday afternoon. In order of …

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One of the most prominent names in crypto defaulted on $47 million USDC debt, Coinflex says

Crypto exchange CoinFlex’s chief executive Mark Lamb said Tuesday that it issued a notice of default to Roger Ver, an early crypto investor and founder of Bitcoin.com, alleging that Ver failed to meet a margin call and owes the exchange $47 million USDC. Lamb made the comments on Twitter after Ver tweeted Tuesday rumors that …

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Oracle Corp. stock falls Tuesday, underperforms market

Shares of Oracle Corp. ORCL, -2.60% slid 2.60% to $68.58 Tuesday, on what proved to be an all-around rough trading session for the stock market, with the S&P 500 Index SPX, -2.01% falling 2.01% to 3,821.55 and Dow Jones Industrial Average DJIA, -1.56% falling 1.56% to 30,946.99. This was the stock’s second consecutive day of …

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Tesla stock lower ahead of second-quarter sales

Tesla Inc. is set to unveil later this week second-quarter deliveries, the electric-car maker’s proxy for sales, which were likely hit by pandemic-related lockdowns in China and down from recent quarters. Tesla -5.00% reports production and deliveries numbers by quarter, rather than by month like other auto makers such as Ford Co. F, -1.91% It …

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Netflix Inc. stock falls Tuesday, underperforms market

Shares of Netflix Inc. NFLX, -5.04% shed 5.04% to $179.60 Tuesday, on what proved to be an all-around grim trading session for the stock market, with the S&P 500 Index SPX, -2.01% falling 2.01% to 3,821.55 and Dow Jones Industrial Average DJIA, -1.56% falling 1.56% to 30,946.99. This was the stock’s second consecutive day of …

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Bank of America clients sold last week’s stock-market rally while buying ETFs

Bank of America clients sold the stock-market rally last week but were buying exchange-traded funds across styles in a tough year for equities, according to BofA Global Research. The bank’s clients were net sellers of US stocks for a third straight week, BofA equity and quant strategists said in a research note dated June 27. …

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Bank of America clients sold last week’s stock-market rally while buying ETFs

Bank of America clients sold the stock-market rally last week but were buying exchange-traded funds across styles in a tough year for equities, according to BofA Global Research. The bank’s clients were net sellers of US stocks for a third straight week, BofA equity and quant strategists said in a research note dated June 27. …

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Canopy growth credit rating hit on market share losses in Canadian cannabis market

Fitch Ratings on Monday downgraded its debt rating on Canopy Growth Corp. CGC, -3.56% WEED, -1.64% and said uncertainty remains whether the company can sustain its capital structure. “It is highly doubtful that Canopy can improve [its] Earnings before interest, taxes, depreciation and amortization (Ebitda) to reach operating cash flow breakeven in fiscal 2025 as …

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SEC fines Ernst & Young $100 million for employees cheating on CPA ethics exams

Accounting giant Ernst & Young will pay $100 million to settle charges with the Securities and Exchange Commission that hundreds of its employees cheated on the ethics components of the Certified Public Accountant examination and continuing education courses and for withholding information about the misconduct to regulators. “It’s simply outrageous that the very professionals responsible …

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The ugly truth about online pharmacies

You’re tired of spending so much money on prescription drugs, and you’re perusing some very professional-looking websites of online pharmacies. The premises, and the promises, are enticing. Save money, free shipping, no prescriptions necessary, no doctor’s visits needed. Except that, if you don’t know what to look for, you could very well be purchasing fake …

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